Synchrony Financial is actively engaged in the work to allow its cards to run through Samsung Pay, Android Pay and CurrentC, Bank Innovation has learned. Carol Juel, chief information officer of Synchrony, the nation’s largest private-label credit card issuer, told Bank Innovation today that the Samsung Pay functionality, for example, shouldRead More

MicroStrategy, the industry technology provider, is now sitting on close to $500 million of cash. The company disclosed the cash hoard in its earnings release yesterday. Company officials said the cash will be used when/if MicroStrategy stock [ticker: MSTR] becomes undervalued. MSTR has climbed about 13% in value so far thisRead More

Discover Financial Services might be the major FI most engaged in spending on information technology today. Which is why it is worth noting that the company claims it is already “seeing good returns associated with those” spending efforts, according to R. Mark Graf, the credit card issuer’s chief executive officer andRead More

MasterCard Inc. has confirmed what many suspected: that is application programming interface, or API, offerings are leading to a larger population of smaller clients at the payments network. At a NYPAY Meetup last night in New York, Brien Buckman, who heads MasterCard’s API skunk works at the payment company’s swank Tech HubRead More

Soon, there will be 1.5 million chances for you to bump into Apple Pay. That’s because Apple Pay is expected to be in 1.5 million locations in the United States by the end of 2015. Last week, Apple Pay launched in the United Kingdom, and scored 250,000 locations “on Day One,”Read More

Synchrony Financial, the nation’s largest provider of private-label lending programs, will start providing its clients with deep Apple Pay transaction data. Synchrony appears to be the first issuer that is providing bank-level Apple Pay data to third parties. Synchrony, formed from GE Capital’s private label unit, had $61.4 billion ofRead More

U2 keeps playing up Bank of America’s involvement in its (RED) charity to cure AIDS. U2, one of the greatest rock bands in history (in my view), is currently playing an eight-night gig at Madison Square Garden in New York, and Bank of America is apparently getting props during theRead More

Carl Icahn, the activist investor, argued that PayPal was “shrouded by a conglomerate discount.” Today we can say Icahn was right. PayPal started trading today with the ticker PYPL and by midmorning Eastern Time, the company’s market cap neared $47 billion, while eBay, its former parent company, was valued at $34Read More

Bank of America might want to change its name to Digital Bank of America. The Charlotte, N.C., megabank is more digital bank than conventional financial institution today. That’s because 60% of the bank’s “sales” are “all digital now,” Brian T. Moynihan, Chairman and CEO of Bank of America, told investorsRead More

Transparency took a left hook to chin yesterday when Wells Fargo & Co. chose to withhold a crucial piece of its financial data. Specifically, Wells Fargo for the first time in at least two years refused to disclose the exact number of its active mobile banking users. Instead, Wells FargoRead More

JPMorgan Chase & Co.‘s active mobile users totaled about 21 million last quarter, the bank announced today. JPM is the first bank to report more than 20 million total active mobile users. JPM made the announcement as part of its second quarter earnings release. The 20 million mark is aRead More